keâehees&jsš DeefYeMeemeve

Transkript

1 1. ¹ð ç ç ¹ª œ ñ ÿˆå ˆÅú ú¹ 1. Bank s Philosophy on Code of Governance ñ ÿˆå ˆÅ ¹ð Ÿ ª¾ ¹ˆÅ ý½ß ˆÅ œ ½Ä ½ ¹ð ç ç ¹ˆÅç ú ð ú ç Š ˆ½Å ç º¹ ¹ ˆÅ ç ˆ½Å ¹ Ÿ ª œ Þµ Ä ç Š ˆÅ ª¾. ƒç ç ½ ˆ½Å ½ š ˆÅ ½ ˆÅ ½ ¹š ˆÅ Ÿ Ÿ Þ ¹Ÿ ª¾ ¹œ º ƒç ç ½ ç Š ˆÅ ú ĈŠú ¾ ç ú ¹ ˆÅ ç ð ú ª ½ ª¾. ˆÅ œ ½Ä ½ ¹ð ç ˆ½Å êê Ÿ Ÿ ˆÅ ½ ˆÅ ½ œï œ ˆÅ ½ ˆ½Å ¹ ¹ ½ ˆÅ Ÿ è ú¹ ç Š Ÿ Þ ½ ¾ êê ¾¹ ˆÅ Ÿ è ½ Ÿ ½ ¹ ç ª¾. ¹ ½ ˆÅ Ÿ è ½ ¹ ¹ð ç ÁˆÅ Æç ê ½ ù ½ ˆ½Å ç ¹ˆÅ Š ç Þê úñ Ö ˆÅ ˆ½Å è 49 ˆ½Å š ú ˆÅ œ ½Ä ½ ¹ð ç ˆÅú ç ¹ª ˆÅ ½ œ Þµ Ä ˆÅ Ĺ ¹ˆÅ ª¾. ñ ÿˆå œ ½ ½ š ˆÅ ½, ŠÏ ªˆÅ ½, ç ˆÅ ¾ Ÿ ù ç ¹ª ù ½¹ Ÿ ½ ½ ˆ½Å ¹ª ½ ˆÅú ¹ê ç º ª½ º ˆ½Å ˆÅ œ ½Ä ½ ¹ð ç ˆÅú ç ¹ ¹š ˆÅ œ ½ ½ ˆÅ ºœ ˆÅ ª¾ ¹œ º ñ ÿˆå Ÿ ½ ˆÅ œ ½Ä ½ ¹ð ç ˆÅú ý½ß Ÿ ú¹ ½ ˆÅ ð ú ç ½êø œ Þ ÄˆÅ œ ˆÅ ª¾. The Bank believes that good Corporate Governance practices are ingredients for the balanced development of an organisation which would not only maximize the shareholder s value but also have sustained and long lasting development of the organisation. The Board of Directors believes in ethical values and high moral standards in achieving the highest standards of Corporate Governance. The Board of Directors have implemented the Code of Corporate Governance under clause 49 of the Listing Agreements entered into with various Stock Exchanges. The Bank not only complies with the statutory requirements of Corporate Governance but also follows voluntarily the best practices of Corporate Governance in the Bank in order to serve the interests of its stakeholders including shareholders, customers, Government and public at large. 2. ¹ ½ ˆÅ Ÿ è ñ ¾ ˆÅˆÅ ú ¹ ¹ Ÿ, ¹š ¹ Ÿ 1949 ¾ ñ ÿˆåˆå ú ˆ Åœ ú ( œ ÇÅŸ ½ ˆÅ ù Ä ¾ µ ) ¹š ¹ Ÿ 1970 ß ïú ˆ¼Å ñ ÿˆå (œïñ š ¹ ¹ š œï š ) ½ù 1970 ˆ½Å œï š ½ ˆ½Å º³œ ñ ÿˆå ˆÅ½ ¹ ½ ˆÅ Ÿ è ˆ½Å Š ˆÅ ½ ¹ ¹ ¹Ÿ ¹ˆÅ Š ª¾. ¹ ˆÅ ˆÅ ½ ¹ ½ ˆÅ Ÿ è ˆÅ ç ½ù 9 ¹ ½ ˆÅ ½ ç ½ ªº ª¾ ¹ù Ÿ ½ ˆÅ œ Þµ ĈŠ¹ ˆÅ ¹ ½ ˆÅ Ä Ã ç ˆÅ ¹ ºÆ ˆÅ Äœ ˆÅ ¹ ½ ˆÅ 8 Š ¾ -ˆÅ Äœ ˆÅ ¹ ½ ˆÅ ¹Ÿ ªÿ. 8 Š ¾ -ˆÅ Äœ ˆÅ ¹ ½ ˆÅ ½ Ÿ ½ ç ½ ˆÅ- ˆÅ ¹ ½ ˆÅ ñ ÿˆå ˆ½Å ÇÅŸ : ¹š ˆÅ ú Š Ä ˆÅŸ Äê ú Š Ä ˆÅ, ˆÅ ð ç ˆÅ ˆÅ, ˆÅ ¹ ½ ˆÅ ð ú ¹ ù Ä ñ ÿˆå ˆÅ œï¹ ¹ ¹š ˆÅ ½ ªÿ ê ¹ ½ ˆÅ ð ç ˆÅ ˆÅ½ ½ š ˆÅ ½ ê ¹ ½ š ˆÅ ¹ ½ ˆÅ ªÿ. 2.1 ¹ ½ ˆÅ ½ ˆ½Å ¹ µ ½ê ß Ä ˆ½Å Š Ä ¹ ½ ˆÅ Ÿ è ˆ½Å ¹ ½ ˆÅ ½ ˆ½Å ˆÅ ¹ µ º Š ˆÅ- ˆ½Å ºç ¹ Š ªÿ. 2. Board of Directors The constitution of Board of Directors of the Bank is governed by the provisions of the Banking Regulations Act, 1949, the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 & Nationalised Banks ( & Miscellaneous Provisions) Scheme, As of the composition of the Board consists of 9 Directors including one whole time Director viz., the Executive Director appointed by the Government and 8 non-executive Directors. Out of 8 nonexecutive Directors, two Directors represent Officers and Workmen of the Bank respectively, one Director represents the Government of India, one Director represents Reserve Bank of India and four shareholder Directors elected by the Shareholders other than Government of India. 2.1 Particulars of Directors The necessary particulars of directors comprising Board of Directors during the year under review are given below: 34

2 efveosmekeâew kesâ efjejejce (31 ceeûe& 2005 keâes meceehle Je<e& kesâ oewjeve) PARTICULARS OF DIRECTORS (during the year ended 31st March, 2005) eâ. efveosmekeâew kesâ veece Gceü ÙeesiÙelee DevÙe kebâheefveùeew osvee yeqkeâ keâer *DevÙe kebâheefveùeew osvee yeqkeâ keâer DevÙe kebâheefveùeew keâer meb. Deewj keâeùe&keâeue Je<eeX cew cew efveosmekeâ cew ÙeeW ÙeeW cew DeOÙe#e ÙeeW cew keâer nwefmeùele meomùelee cew meomùelee keâer nwefmeùele DeOÙe#e keâer nwefmeùele Sr. Name of Directors Age Qualification Directorship Membership in Membership Chairmanship Chairmanship No. and Tenure in in other s of in s in s in s Yrs. Companies Dena Bank of other of Dena Bank of other Companies Companies 1 [e@. S. kesâ. KeC[sueJeeue (De.Øe.efve.) Dr. A.K. Khandelwal (CMD) mes / to yeer.f&., ØeyebOeve cew mveelekeâesòej ef[«eer lelee heersûe.[er., SueSue.yeer., ØeefMe#eCe SJeb efjekeâeme lelee ßece keâevetve cew mveelekeâesòej ef[hueescee B.E., P.G. Degree & Ph.D. in, LL.B., P.G. Diploma in Training & Development and Labour Laws. 1. vùet Fbef[Ùee SMÙetjWme keâcheveer efue. 2. ke=âef<e efjeòe keâejheesjsmeve efue. 3. mebie"ve efjekeâeme kesâvõ, nwojeyeeo 4. ceeveje mebmeeoeve efjekeâeme Dekeâeoceer, Denceoeyeeo 1. New India Assurance Company 2. Agriculture Finance Corp. 3. Centre for Organisation Development, Hyderabad, 4. Academy of Human Resource Development, Ahmedbad 2 ßeer Sce. Jeer. veeùej (keâe. efve.) 27/08/2004 Deewj De. SJeb Øe. efve. (Deefleefjòeâ ØeYeej) mes ØeYeeJeer Shri M.V. Nair (ED) 27/08/2004 & CMD (Additional Charge) w.e.f. 01/03/ yeer. Smemeer. meer.s.deef&.deef&.yeer-1 B.Sc., CAIIB mecesefkeâle peesefkece ØeyebOeve hej efveosmekeâew 4. yeì[er ueeiele Jeeueer OeesKeeOeÌ[er hej efveosmekeâew 5. MesÙej DeblejCe 6. «eenkeâ mesjee hej efveosmekeâew 3. of Integrated Risk 4. of Large Value Frauds 5. Share Transfer 6. of customer Service 3. ueskee hejer#ee 4. mecesefkeâle peesefkece ØeyebOeve hej efveosmekeâew 5. yeì[er ueeiele Jeeueer OeesKeeOeÌ[er hej efveosmekeâew 6. MesÙej DevlejCe 7. «eenkeâ mesjee hej eqveosmekeâ ceb[ue keâer 3. mecesefkeâle peesefkece ØeyebOeve hej efveosmekeâew 4. yeì[er ueeiele Jeeueer OeesKeeOeÌ[er hej efveosmekeâew 5. MesÙej DevlejCe 6. «eenkeâ mesjee hej efveosmekeâew 3. of Integrated Risk 4. of Large Value Frauds 5. Share Transfer 6. of Customer Service i. ueskee hejer#ee ii. eqveosmekeâ ceb[ue (1 ceeûe& 05 mes ØeYeeJeer) iii. ØeyebOeve (1 ceeûe& 05 mes ØeYeeJeer) iv. mecesefkeâle peesefkece ØeyebOeve hej efveosmekeâew (1 ceeûe& 05 mes ØeYeeJeer) v. MesÙej DevlejCe (1 ceeûe& 05 mes ØeYeeJeer) vi. «eenkeâ mesjee hej eqveosmekeâ ceb[ue keâer (1 ceeûe& 05 mes ØeYeeJeer) ceeveje mebmeeoeve efjekeâeme Dekeâeoceer, Denceoeyeeo Academy of Human Resource Development, Ahmedabad 35

3 efveosmekeâew kesâ efjejejce (31 ceeûe& 2005 keâes meceehle Je<e& kesâ oewjeve) PARTICULARS OF DIRECTORS (during the year ended 31st March, 2005) 3. Audit 4. of Integrated Risk 5. of Large Value Frauds 6. Share Transfer 7. of Customer Service i. Audit ii. Board (w.e.f. 1st Mar., 05) iii. (w.e.f. 1st Mar., 05) iv. of Integrated Risk (w.e.f. 1st Mar., 05) v. Share Transfer (w.e.f. 1st Mar., 05) vi. of Customer Service (w.e.f. 1st Mar., 05) 3 ßeer S. kesâ. jeùe Shri A.K. Rai mes/to 31/05/ Sce. S. M.A. YeejleerÙe DeewÅeesefiekeâ efvejesme yeqkeâ Industrial Investment Bank of India 3. ueskee hejer#ee 4. mecesefkeâle peesefkece ØeyebOeve hej efveosmekeâew 5. yeì[er ueeiele Jeeueer OeesKeeOeÌ[er hej efveosmekeâew 6. «eenkeâ mesjee 3. Audit 4. of Integrated Risk 5. of Large Value Frauds 6. Customer Service 1. YeejleerÙe DeewÅeesefiekeâ efvejesme yeqkeâ (ueskee hejer#ee ) 2. YeejleerÙe DeewÅeesefiekeâ efvejesme yeqkeâ (MesÙej Oeejkeâ Deewj efvejesmekeâ heefjjeeo ) 1. Industrial Investment Bank of India (Audit ) 2. Industrial Investment Bank of India (Shareholders & Investors Grievance ) 4 ßeer Deej. jbieveele mes lekeâ Shri R. Renganath to Sce. S., SueSue.yeer. M.A., LL.B. 1. vesmeveue FbMÙettjsvme kebâ. 2. DeesefjÙevšue FbMÙettjsvme kebâ. 1. National Insurance Company 3. ueskee hejer#ee 4. mecesefkeâle peesefkece ØeyebOeve hej efveosmekeâew 5. yeì[er ueeiele Jeeueer 36

4 efveosmekeâew kesâ efjejejce (31 ceeûe& 2005 keâes meceehle Je<e& kesâ oewjeve) PARTICULARS OF DIRECTORS (during the year ended 31st March, 2005) 2. Oriental Insurance Company OeesKeeOeÌ[er hej efveosmekeâew 6. «eenkeâ mesjee 3. Audit 4. of Integrated Risk 5. of Large Value Frauds 6. Customer Service 5 ßeer heer. efjepeùe Yeemkeâj Shri P. Vijaya Bhaskar mes / to Sce. keâe@ce., meersdeef&deef&yeer, heerpeer[eryeersce. M.Com., CAIIB, PGDBM. 3. ueskee hejer#ee 3. Audit 6 ßeer SÛe. Deej. Keeve 50 Sce. S., Sce.efHeâue., mes meer.s.deef&.deef&.yeer., lekeâ [er.yeer.sce. Shri H. R. Khan (Sve.Sce.DeeF&.Sce.Sme.) to M.A., M.Phil., CAIIB, DBM (NMIMS) 3. ueskee hejer#ee 3. Audit 7 ßeer Ùet. Sme. heeueerjeeue 48 Sce. S. (DeLe&Meem$e) (Deieues DeeosMe Sce. S. (Fefleneme) lekeâ) Sce. efheâue., Shri U.S. Paliwal Sce.yeer.S., w.e.f until meer.s.deef&.deef&.yeer. further orders M.A., (Eco.), M.A. (His.), M.Phil., MBA, CAIIB 3. ueskee hejer#ee 3. Audit 37

5 efveosmekeâew kesâ efjejejce (31 ceeûe& 2005 keâes meceehle Je<e& kesâ oewjeve) PARTICULARS OF DIRECTORS (during the year ended 31st March, 2005) 8 ßeer megoeerj peesmeerhegje 55 yeer. keâe@ce GòejeefOekeâejer B.Com keâer efveùegefòeâ lekeâ Shri Sudhir Joshipura to Till Successor appointed 2. MesÙejOeejkeâeW / efvejesmekeâew keâer heefjjeeo 1.Board 2.Shareholders / Investors Grievances 9 ßeer yeer. šer. Deej. js[d[er 59 yeer. Smemeer mes B.Sc lekeâ Shri B.T. R. Reddy to «eenkeâ mesjee hej efveosmekeâew 1.Board 2. of Customer Service 10 ßeer leguemeer De«eJeeue Shri Tulsi Agarwal mes/to Sce. S., SueSue.yeer. M.A., LL.B. 1. yeer. kesâ. Hetâ[dme Øee. efue. 2. keâvheäuùegsvme Ss[JejšeFefpebie Øee. efue. 3. Deuš^eHeâemš meefje&mesme Øee. efue. 4. ceušerhueskeäme ceekexâefšbie SC[ Fb[efmš^Ùeue kebâ. efue. 5. hetjeeëûeue ceeref[ùee Øee. efue. 1. B.K. Foods Pvt. 2. Confluence Advertising Pvt. 3. Ultrafast Services Pvt. 4. Multiplex Marketing & Industrial Co. 5. Purvanchal Media Pvt. 2. ueskee hejer#ee 3. yeì[er ueeiele Jeeueer OeesKeeOeÌ[er hej efveosmekeâew 2. Audit 3. of Large Value Frauds 11 ßeerceleer megosme ÙeeoJe 53 Sce.S., SueSue.yeer Heâesefvekeäme uewchme Smt. Sudesh Yadav M.A., LL.B. Fbef[Ùee efue. 2. ueskee hejer#ee mes/to Phoenix 3. yeì[er ueeiele Jeeueer Lamps India OeesKee OeÌ[er hej efveosmekeâew 2. Audit 3. of Large Value Frauds 38

6 efveosmekeâew kesâ efjejejce (31 ceeûe& 2005 keâes meceehle Je<e& kesâ oewjeve) PARTICULARS OF DIRECTORS (during the year ended 31st March, 2005) 12 ßeer Sme. meer. JeeOeJee Shri S.C. Wadhwa mes/to ßeer Delegue DeMeeskeâ ieueeb[s Shri Atul Ashok Galande mes/to ßeer meer. Sce. oeref#ele Shri C.M. Dixit mes/to Sce. S., meersdeef&deef&yeer. M.A., CAIIB. kesâpesscemeer FvJesmšceWš š^mš kebâ. efue. KJMC Investment Trust Co. 38 Sce. SHeâ.meer.S. M.Com., F.C.A. ceunej kebâmeušwš Øee. efue. Malhar Consultants Pvt. meer.s. B.Com., C.A. 1. peer[ers š^mšerpe SC[ kebâmeušqmeer Øee. efue. 2. ßeerjece efûešdme (cegbyef&) efue. 3. Deejcej kebâmeušwšdme Øee. efue. 4. efkeâmeesj hechme efue. 1. GDA Trustees & Consultancy Pvt. 2. Shriram Chits (Mumbai) 3. Armour Consultants Pvt. 4. Kishore Pumps 2. mecesefkeâle peesefkece ØeyebOeve hej efveosmekeâew 3. yeì[er ueeiele Jeeueer OeesKee OeÌ[er hej efveosmekeâew 4. MesÙej DevlejCe 2. of Integrated Risk 3. of Large Value Frauds 4. Share Transfer 2. ueskee hejer#ee 3. mecesefkeâle peesefkece ØeyebOeve hej efveosmekeâew 4. yeì[er ueeiele Jeeueer OeesKee OeÌ[er hej efveosmekeâew 2. Audit 3. of Integrated Risk 4. of Large Value Frauds 3. ueskee hejer#ee 4. mecesefkeâle peesefkece ØeyebOeve hej efveosmekeâew 5. MesÙej Oeejkeâ /efvejesmekeâ heefjjeeo 6. MesÙej DevlejCe 7. «eenkeâ mesjee 3. Audit 4. of Integrated Risk peer[ers š^mšerpe SC[ kebâmeušqmeer Øee. efue. (efvejesme ) 1. GDA Trustees & Consultancy Pvt. (Investment ) MesÙej Oeejkeâ / efvejesmekeâ heefjjeeo Shareholders/ Investors Grievance ueskee hejer#ee 8/3/2005 lekeâ Audit upto 8/03/2005 ueskee hejer#ee mes Audit w.e.f

7 15 ßeer ceveg Ûe{d{e Shri Manu Chadha mes/to efveosmekeâew kesâ efjejejce (31 ceeûe& 2005 keâes meceehle Je<e& kesâ oewjeve) PARTICULARS OF DIRECTORS (during the year ended 31st March, 2005) 49 meer.s., SueSue.yeer. B.Com., C.A., LL.B. 1. šerdeejmeer kebâmeefušbie efue. 2. šerdeejmeer HeâeFveQefmeÙeue meefje&mespe efue. 3. peerdeef&meer negefmebie HeâeF. efue. 4. DeesefjÙebš hesheme& SC[ Fb[mš^erpe efue. 5. Fmheele Fb[mš^erpe efue. 6. SmeyeerDeeF& Hebâ[dme cewvespecewš Øee. efue. 7. efnceeueùeve esâmš heejej efue. 8. keâesšuee neùe[^es heejej efue. 1. TRC Corp. Consulting 2. TRC Financial Services 3. GIC Housing Finance 4. Orient Papers and Ind. 5. Ispat Ind. 6. SBI Funds Pvt. 7. Himalayan Crest Power 8. Kotla Hydro Power 2.2 Ÿ è ˆÅú ñ ¾ ˆ½ Å ½ê ß Ä ˆ½Å ¾ ¹ ½ ˆÅ Ÿ è ˆÅú 11 ñ ¾ ˆ½ Å ¹ Ÿ ¹ ¹ ¹ ¹ ½ ˆÅ ½ ªºƒô : 5. Shareholders / Investors Grievances. 6. Share Transfer 7. Customer Service 1. DeesefjÙebš hesheme& SC[ Fb[mš^erpe efue. (ueskee hejer#ee ) 2. Fmheele Fb[mš^erpe efue. (ueskee hejer#ee ) 3. Fmheele Fb[mš^erpe efue. (efvejesmekeâ heefjjeeo Deewj MesÙej DeblejCe ) 4. SmeyeerDeeF& Hebâ[dme cewvespecewš Øee. efue. (ueskee hejer#ee ) 5. keâesšuee neùe[^es heejej efue. (ueskee hejer#ee ) 1. Orient Paper & Industries (Audit ) 2. Ispat Ind. (Audit Comm.) 3. Ispat Industries (Investors Grievance & Share Transfer Comm.) 4. SBI Funds Mgmt. Pvt. (Audit Comm.) 5. Kotla Hydro Power (AuditComm.) 1. Fmheele Fb[mš^erpe efue. (ueskee hejer#ee ) 2. SmeyeerDeeF& Hebâ[dme cewvespecewš Øee. efue. (ueskee hejer#ee ) 1. Ispat Ind. (Audit Comm.) 2. SBI Funds Pvt. (Audit ) 2.2 Board Meetings During the year under review, 11 meetings of the Board of Directors were held on the following dates:

8 ß Ä ˆ½Å ¾ ç ¹Ÿ ¹ ½ ˆÅú ñ ¾ ˆÅ ½ Ÿ ½ œ ¹ç ¹ ˆÅú ¹ç ¹ ¹ Ÿ œïˆå ªú :- 41 The Status of attendance in meetings of the s during the year is as under: efveosmekeâ keâe veece efveosmekeâ ceb[ue keâer yew"keâ ØeyebOeve ueskee hejer#ee Name of Director Board Meeting Audit DeOÙe#e [e@. S. kesâ. KeC[sueJeeue [e@. S. kesâ. KeC[sueJeeue ßeer S. S. ieueeb[s Chairman Dr. A K Khandelwal Dr. A K Khandelwal Sh. A.A. Galande efoveebkeâ lekeâ / Upto efoveebkeâ lekeâ / Upto efoveebkeâ lekeâ / Upto 01/03/05 01/03/05 08/03/05 ßeer Sce. Jeer. veeùej ßeer Sce. Jeer. veeùej ßeer meer Sce oeref#ele Sh. M.V. Nair Sh. M.V. Nair Sh C.M. Dixit efoveebkeâ mes / From efoveebkeâ mes / From efoveebkeâ mes / From 02/03/05 02/03/05 09/03/05 yeq"kewâ DeeÙeesefpele ngfë * yeq"keâew cew Yeeie efueùee yeq"kewâ DeeÙeesefpele ngfë* yeq"keâew cew Yeeie efueùee yeq"kewâ DeeÙeesefpele ngfë* yeq"keâew cew Yeeie efueùee Meetings Held* Meetings Attended Meetings Held* Meetings Attended Meetings Held* Meetings Attended ßeer Sce. Jeer. veeùej (keâeùe&.efve.) De.Øe.efve.(Deefleefjòeâ ØeYeej) Sh. M.V. Nair (ED) CMD (Add. Charge) [e@. S. kesâ. KeC[sueJeeue (De.Øe.efve.) Dr A. K. Khandelwal (CMD) NA NA ßeer S. kesâ. jeùe Sh. A.K. Rai ßeer Deej. jbieveele Sh. R. Rengnath ßeer heer. efjepeùe Yeemkeâj Sh.P.Vijaya Bhaskar ßeer SÛe. Deej. Keeve Sh. H. R. Khan ßeer Ùet. Sme. heeueerjeeue Sh. U. S. Paliwal ßeer megoeerj kesâ. peesmeerhegje Sh.Sudhir K. Joshipura ueeiet vener/na ueeiet vener/na ßeer yeer. šer. Deej. jsñer Sh. B. T. R. Reddy ueeiet vener/na ueeiet vener/na ßeer leguemeer De«eJeeue Sh. Tulsi Agarwal ueeiet vener/na ueeiet vener/na ueeiet vener/na ueeiet vener/na ßeerceleer megosme ÙeeoJe Smt. Sudesh Yadav ueeiet vener/na ueeiet vener/na ßeer Sme. meer. JeeOeJee Sh. S. C. Wadhwa ueeiet vener/na ueeiet vener/na ßeer Delegue S. ieueeb[s Sh. Atul.A Galande ueeiet vener/na ueeiet vener/na ßeer meer. Sce. oeref#ele Sh. C. M. Dixit ßeer ceveg ÛeÌ{d{e Sh. Manu Chadha ueeiet vener/na ueeiet vener/na * Fvemes mebyebefoele keâeùe&keâeue kesâ oewjeve - ueeiet vener * During their respective tenure, NA - Not applicable

9 3. ¹ ½ ˆÅ ½ ˆÅú ç ¹Ÿ ¹  ð ú ¹ ù Ä ñ ÿˆå ù ú ¹ ¹ ½Ä ½ ˆ½Å º³œ ¾ ˆÅ œ ½Ä ½ ¹ð ç ˆ½Å Ÿ Š Ä úä ¹ç Ö ½ ˆ½Å ºç ñ ÿˆå ½ œ ½ ¹ ½ ˆÅ Ÿ è ˆÅú ¹ ¹ð ç ¹Ÿ ¹ ½ ˆÅ Š ¹ˆÅ ª¾ ¹ù ˆÅ ñ ¾ ƒç œïˆå ª¾ :- 3.1 ¹ ½ ˆÅ Ÿ è ˆÅú œïñ š ç ¹Ÿ ¹ ñ ÿˆå ½ ß ïú ˆ¼Å ñ ÿˆå (œïñ š ¹ ¹ š œï š ) ½ù, 1970 ˆ½Å œï š ½ ˆ½Å ºç œïñ š ç ¹Ÿ ¹ ˆÅ Š ¹ˆÅ ª¾. ç ¹Ÿ ¹ ˆ½Å Ÿ º ˆÅ ½ Ä Ÿ ½ š œïñ š ¹ ½ ˆÅ ˆ½Å ¹ ½ˆÅ š ú ¹š ˆÅ ½ ç ½ ¹š ˆÅ ˆ½Å ç œïç ½ ˆÅú ç úˆ¼å¹, œ Þ ù úš ù ç ˆ½Å ºŸ ½ ˆ½Å œïç ¾ ç ˆÅ ú ºŸ ½¹ œï¹ ð Þ¹ ½, ª Ÿ ú ú ¹ ç ¹ª ˆ Åœ ¹ ½ / ˆÅ œ ½Ä ½ ½ ˆ½Å ½ ½ / ¹èñ ½ ê ½ / ñ è ½ Ÿ ½ ¹ ½ œïñ š ç ¹Ÿ ¹ ˆÅ ½ ¹ ½ ˆÅ Ÿ è œïç º ˆÅ ½ƒÄ ð ú Ÿ Ÿ ¹Ÿ ª¾. 31 Ÿ ê Ä, 2005 ˆÅ ½ ýú Ÿ. ú., ýú Þ. ç. œ ú, ýú Ÿ º ê Ü, ¾ ýú ç ú. Ÿ. ú¹ Æ ç ¹Ÿ ¹ ˆ½Å ç ç ½. œï¾, 2004 ç ½ Ÿ ê Ä, 2005 ˆÅ ˆÅú ¹š Ÿ ½ Æ ç ¹Ÿ ¹ ˆÅú 13 ñ ¾ ˆ½ Å ªºƒô. 3.2 ¹ ½ ˆÅ Ÿ è ˆÅú ½ œ ú ç ¹Ÿ ¹ ð ú ¹ ù Ä ñ ÿˆå ˆ½Å º ½ ½ ˆ½Å ºç ñ ÿˆå ½ Æ Þñ, 1995 Ÿ ½ ¹ ½ ˆÅ Ÿ è ˆÅú ½ œ ú ç ¹Ÿ ¹ ˆÅ Š ¹ˆÅ Š ¾ ª ¹ç Ÿñ, 1997 Ÿ ª Ÿ ½ œ º Š Ĺ ˆÅú Š ƒä. ½ œ ú ç ¹Ÿ ¹ ˆ½Å ˆÅ ½ Ä Ÿ ½ ½ œ ú ˆÅ ½ Ä ˆÅ œ Ä ½ µ ˆÅ, ñ ÿˆå ˆ½Å ¹ î ú ˆÅ Ä ¹ ßœ ˆÅú ç Ÿ ú ˆÅ, ç Ÿ úä / ¹ ú µ ½ / ½ œ ú ½ ˆ½Å Ÿ ª œ Þµ Ä ¹ ߈Åß ½ Ä ˆÅú ç Ÿ ú ˆÅ, ½ ˆÅ Ÿ ˆÅ ½ ½ ñ ù ˆ½Å ç Þê úñ Ö ˆÅ ˆ½Å œ š 49 ˆ½Å ª ¹ ¹ ¹ Äß Ÿ Ÿ ½ ˆÅ ºœ ˆÅ ¹Ÿ ªÿ. Æ ç ¹Ÿ ¹ ¹ Ÿ ªú / ¹ß ĈŠ½ ½ ˆÅ ½ ¹ ½ ˆÅ Ÿ è ˆ½Å ºŸ ½ ª½ º, ç ç º ˆÅ ½ ˆ½Å œ ª ½ ç œ ¹ ê ˆÅ ú ª¾. ¹ ½ ˆÅ Ÿ è ˆÅú ½ œ ú ç ¹Ÿ ¹ Ÿ ½ œ Âê ç ç ç ¹ŸŸ ¹ ªÿ. ñ ÿˆå Ÿ ½ ¹ ½ ˆÅ Ÿ è ˆÅú ½ œ ú ç ¹Ÿ ¹ ˆÅ Ÿ ¾ù Þ ç ½ù ƒç œïˆå ª¾ :- ˆÅ) ñ ÿˆå ˆ½Å ˆÅ Äœ ˆÅ ¹ ½ ˆÅ ) ð ç ˆÅ ¹Ÿ ˆÅ Š ¾ ˆÅ Äœ ˆÅ ¹ ½ ˆÅ Š ) ð ú ¹ ù Ä ñ ¾ ˆÅ ¹Ÿ ˆÅ Š ¾ ˆÅ Äœ ˆÅ ¹ ½ ˆÅ ) ½ Š ¾ ˆÅ Äœ ˆÅ ¹ ½ ˆÅ 3. s of Directors In accordance with the guidelines issued by Reserve Bank of India and the guidelines on Corporate Governance etc., the Bank has constituted various s of the Board of Directors, the details of which are given below: 3.1 of the Board The Bank has constituted as per provisions of Nationalised Banks ( and Miscellaneous Provisions) Scheme, The main functions of the include sanctioning of credit proposals, proposals for approval of capital and revenue expenses, investments in Government and other approved securities / shares/ Bonds and debentures of companies /Corporate, including underwriting etc. which are beyond the discretionary powers of the Chairman & Managing Director and any other matter referred to the by the Board. Shri M. V. Nair, Shri R. Rengnath, Shri U. S. Paliwal, Shri Manu Chadha and Shri C.M. Dixit were the members of the as on March 31, The met on 13 occasions from April 2004 to March Audit of the Board The Bank has Constituted Audit of the Board of Directors in October 1995 as per instructions of the Reserve Bank of India and the was reconstituted in the month of September The functions of Audit include overseeing the audit functions, review of Bank s financial performance, review critical findings of concurrent/ other inspections / audits, compliance with accounting standards and all other matters specified under Clause 49 of the Listing Agreement entered into with the Stock Exchanges. The considers the Quarterly / Annual Accounts before recommending the same to the Board for approval. The Audit of the Board of Directors comprises five members of Board of Directors. The following is the present composition of Audit of the Board of Directors in the Bank: a) Executive Director of the Bank b) One Non Executive Director nominated by Govt. of India; c) One Non Executive Director nominated by Reserve Bank of India and d) Two Non-Executive Directors. 42

10 ¹ ˆÅ 31 Ÿ ê Ä, 2005 ˆÅ ½ ýú ç ú. Ÿ. ú¹, œ ½ ½ ç ½ ç ú ½ ˆÅ ªÿ ¾ ù ½ ñ ÿˆå ˆ½Å ½ š ˆÅ ½ ˆÅ œï¹ ¹ ¹š ˆÅ ½ ª¾, ç ¹Ÿ ¹ ˆ½Å š ªÿ ýú Ÿ. ú., ýú. Š, ýú Þ. ç. œ ú ¾ ýú º ½ˆÅ Š è½ ç ¹Ÿ ¹ ˆ½Å ç ç ªÿ. ½ê ß Ä ˆ½Å ¾ ç ¹Ÿ ¹ ˆÅú 9 ñ ¾ ˆ½ Å ½¹ù ªºƒô. 3.3 ½ š ˆÅ / ¹ ½ ˆÅ ¹ ˆÅ ç ¹Ÿ ¹ ñ ÿˆå ½ ˆÅ œ ½Ä ½ ¹ð ç œ ç ½ñ ú ˆ½Å ¹ ¹ ½ ½ ˆ½Å ºç µ Ÿ ½ ½ ñ ù ½ ˆ½Å ç ªº ç Þê úñ Ö ˆÅ ˆ½Å è 49 ˆ½Å ºœ ˆ½Å ¹ ½ š ˆÅ ½ / ¹ ½ ˆÅ ½ ˆ½Å Ÿ Ÿ ½ ù ¾ç ½ - ½ / ñ è ½ ˆ½Å ªç µ, ¹ß ĈŠ½ ¹Ÿ, ð / ñ ù ¹Ÿ ¹ ¹ ˆÅ ½ ˆ½Å ¹ µ ª½ º ½ š ˆÅ / ¹ ½ ˆÅ ¹ ˆÅ ç ¹Ÿ ¹ ˆÅ Š ¹ˆÅ ª¾. ç ¹Ÿ ¹ ˆ½Å š ýú ç. ç ú. š ªÿ ç ¹Ÿ ¹ ˆ½Å ç ç ½ Ÿ ½ ýú ç ºš ú ˆ½Å. ù ½ úœ º ¾ ýú ç ú. Ÿ. ú¹ ªÿ. ýú Ÿ. ù ú. ç ú, Ÿ ª œïñ š ˆÅ (¹ ½, ¹ ¹š œïñ š ¾ ½ ) ñ ÿˆå ˆ½Å ºœ ¹š ˆÅ ú ªÿ. ½ê ß Ä ˆ½Å ¾ ç ¹Ÿ ¹ ˆÅú ñ ¾ ˆ½ Å ¹ ˆÅ , , ˆÅ ½ ªºƒô. ç Ÿ ú š ú ß Ä ˆ½Å ¾, ñ ÿˆå ½ 7366 º ½š, œ Þø ø, ¹ ˆÅ ½ œï œ ˆÅú ¹ù Ÿ ½ ç ½ 7123 º ½š / œ Þø ø / ¹ ˆÅ ½ ˆÅ ç ½ß ù ˆÅ ç Ÿ š ¹ ½ ˆÅ ½ ˆÅ ½ ˆÅ ¹ Š ª¾ ¾ ½ß 243 Ÿ Ÿ ½ ˆÅ ð ú ¹ œ ¹ ˆÅ 31 Ÿ ê Ä, 2005 ˆ½Å ñ ¹ˆÅ ù ê ô Å ª¾. ¹ ˆÅ ˆÅ ½ ½ š ˆÅ ½ ç ½ ˆÅ ½ƒÄ ¹ ˆÅ / œ ê ¹ñ ªì ½. ¹ ˆÅ 31 Ÿ ê Ä, 2005 ˆÅ ½ ¹ œ ½ ˆ½Å ¹ ½ µ ˆ½Å 322 Ÿ Ÿ ½ ¹ñ ½ ¹ù ˆÅ ½ ð ú-ð ¹ ½ ˆÅ ª½ œï½¹ß ˆÅ ¹ Š ª¾. 3.4 ç Ÿ ½¹ˆÅ ù ½¹ Ÿ œïñ š œ ¹ ½ ˆÅ ½ ˆÅú ç ¹Ÿ ¹ ñ ÿˆå ½ ù Þ, 2001 Ÿ ª Ÿ ½ ¹ ½ ˆÅ Ÿ è ˆÅú ç Ÿ ½¹ˆÅ ù ½¹ Ÿ œïñ š ç ¹Ÿ ¹ ˆÅ Š ¹ˆÅ ¹ù ç ˆ½Å ˆÅ ½ Ä Ÿ ½ ù ½¹ Ÿ ç ñ š ú š µ ½ ç ¹ª ç ð ú ù ½¹ Ÿ ç ñ š ú ˆÅ ½ Ä œ ¹ Š ú, ù ½¹ Ÿ Ÿ Þ ˆÅ ¾ ù ½¹ Ÿ ˆ½Å œ ¹ Ÿ µ ˆÅú ˆÅ Ä-¹ ¹š ˆÅ, ù ½¹ Ÿ ¹ç ¹ ª½ º Ÿ ç ¹ š Ĺ ˆÅ, ù ½¹ Ÿ œïñ š œ œïñ š ˆ½Å ¹ ½Ä ¾ ù ½¹ Ÿ ˆÅŸ ˆÅ ½ ˆÅú ˆÅ úˆå ¹ ç Ÿ ¹ ß ªÿ. 31 Ÿ ê Ä, 2005 ˆÅ ½ ýú Ÿ. ú. ç ¹Ÿ ¹ ˆ½Å š ½ ç ¹Ÿ ¹ ˆ½Å ç ç ½ Ÿ ½ ýú. Š, ýú º ½ˆÅ Š è½ ýú ç. ç ú. š ½. ½ê ç Ÿ ú š ú ß Ä Ÿ ½ ç ¹Ÿ ¹ ˆÅú ú ñ ¾ ˆ½ Å ªºƒô. As on 31 st March 2005, Shri C. M. Dixit, a Chartered Accountant by profession representing the shareholders of the Bank is the Chairman of the and Shri M. V Nair, Shri R. Rengnath, Shri U. S. Paliwal and Shri Atul Ashok Galande are the members of the. During the year under review, the Audit met on 9 occasions. 3.3 Shareholders / Investors Grievance The Bank has in compliance of the SEBI guidelines on Corporate Governance and Clause 49 of the Listing Agreement entered into with the Stock Exchanges constituted a Shareholders / Investors Grievance for redressal of the grievance of shareholders / investors like transfer of shares / bonds, non-receipt of annual report, non-receipt of dividends etc.. The is headed by Shri S. C. Wadhwa and Shri Sudhir K. Joshipura and Shri C.M. Dixit were other members of the. Shri. M. G. Sanghvi General Manager (IFM & Accounts) is the Compliance Officer of the Bank. The met 4 times during the year under review on 17/06/04, 30/10/04, 22/02/05 and 29/03/05. During the year under review the Bank received 7366 requests / enquiries / complaints from the investors out of which 7123 requests / enquiries / complaints has been resolved to the satisfaction of the investors and the remaining 243 cases has also been resolved after 31 st March No complaints / correspondences from Shareholders were pending as on As on March 31, 2005, 322 cases of share transfer were pending for settlement and which has also been processed and dispatched thereafter. 3.4 of Integrated Risk The was constituted in the month of June 2001 and its functions include overseeing all risk management activities including identifying underlying risks perceptions, prescribing risk assessment and quantification methodologies, fixing tolerance level for risk exposures, guiding the line management on risk management and mitigation techniques etc. As on March 31, 2005 Shri M. V. Nair was the Chairman of the and Shri R. Rengnath, Shri Atul Ashok Galande, Shri S.C. Wadhwa and Shri C.M. Dixit were other members of the and the during the year under review, the met on 3 occasions. 43

11 3.5 ñ èõú ˆÅŸ ú š ½ š ¹èõ ½ œ ¹ Š ú ½ ª½ º ¹ ½ß ç ¹Ÿ ¹ ñ ÿˆå ½ ñ èõú ˆÅŸ ú š ½ š ¹èõ ½ œ ¹ Š ú ½ ª½ º ¹ ˆÅ 24 ù ú, 2004 ˆÅ ½ ˆÅ ç ¹Ÿ ¹ ˆÅ Š ¹ˆÅ. ñ ÿˆå Ÿ ½ ù ñ ˆÅð ú ½ç ú  ú ªÿ ½ ç ¹Ÿ ¹ ñ èõú ˆÅŸ ú š ½ š ¹èõ ½ ˆÅú ç Ÿ ú ˆÅ ú ª¾ ¾ ƒç ½ ½ˆÅ ½ ˆ½Å œ ¹ˆÅ ù ½ ªÿ. ¹ ˆÅ 31 Ÿ ê Ä, 2005 ˆÅ ½ ýú Ÿ. ú. ç ¹Ÿ ¹ ˆ½Å š ½ ýú. Š, ýú º ½ˆÅ Š è½ ¾ ýú ç. ç ú. š ç ¹Ÿ ¹ ˆ½Å ç ç ½. ç Ÿ ú š ú ß Ä ˆ½Å ¾ ç ¹Ÿ ¹ ˆÅú ½ ñ ¾ ˆ½ Å ªºƒô. 3.6 ½ µ ç ¹Ÿ ¹ ñ ÿˆå ½ ¹ ˆÅ ½ µ ç Ÿ ú ç ¹Ÿ ¹ ç ç º ½ µ ˆ½Å ºŸ ½ ˆ½Å ¹ ¹ ˆÅ ˆÅ ½ ¹ ½ ˆÅ ½ ˆÅú ˆÅ ç ¹Ÿ ¹ ˆÅ Š ¹ˆÅ. ¹ ˆÅ 31 Ÿ ê Ä, 2005 ˆÅ ½ ýú Ÿ. ú. ç ¹Ÿ ¹ ˆ½Å š ½ ýú ç. ç ú. š ýú ç ú. Ÿ. ú¹ ç ¹Ÿ ¹ ˆ½Å ç ç ½. ½ê ß Ä ˆ½Å ¾ ç ¹Ÿ ¹ ˆÅú 12 ñ ¾ ˆ½ Å ªºƒô. 3.7 ŠÏ ªˆÅ ç ½ ç ¹Ÿ ¹ ñ ÿˆå ½ ŠÏ ªˆÅ ç ½ ˆÅú ç Ÿ ú ˆ½Å ¹ ¹ ˆÅ ˆÅ ½ ¹ ½ ˆÅ ½ ˆÅú ˆÅ ç ¹Ÿ ¹ ˆÅ Š ¹ˆÅ. ª ç ¹Ÿ ¹ ñ ÿˆå Ÿ ½ ŠÏ ªˆÅ ç ½ ½ ¾ ŠÏ ªˆÅ ½ ˆÅú ¹ ˆÅ ½ ¾ œ ½ ½ ˆ½Å ¹ Ÿ ½ ª ½ ½ ú œïš ¹ ˆÅú ç Ÿ ú ˆÅ ú ª¾. ª ç ¹Ÿ ¹ ç ºš ˆ½Å ¹ ñ ª ú ¹ ß ½ ç ¹ª œ ½ œ ð ú ¹ ê ˆÅ ú ª¾. ¹ ˆÅ 31 Ÿ ê Ä, 2005 ˆÅ ½ ýú Ÿ. ú. ç ¹Ÿ ¹ ˆ½Å š ½ ýú. Š, ýú ñ ú. ú.. ½Ûú ýú ç ú. Ÿ. ú¹ ç ¹Ÿ ¹ ˆ½Å ç ç ½. ½ê ß Ä ˆ½Å ¾ ç ¹Ÿ ¹ ˆÅú ˆÅ ñ ñ ¾ ˆÅ ªºƒÄ ¾ ç Ÿ ½ ç ð ú ê ½ ¹ ½ ˆÅ ½ ½ ð Š ¹. 4. ˆÅ Äœ ˆÅ ½ ˆÅú ç ¹Ÿ ¹  ñ ÿˆå ˆ½Å ¹ -œï¹ -¹ ˆÅ ĈŠœ ½ ˆ½Å ç ºê ² ³œ ç ½ ç ê ˆ½Å ¹ ñ ÿˆå ½ ½ˆÅ ¹ ˆÅ ç ¹Ÿ ¹ ½ ˆÅ ð ú Š ¹ˆÅ ª¾. ˆºÅø ¹ ˆÅ ç ¹Ÿ ¹  ƒç œïˆå ªÿ :- 4.1 ¹ ½ ç ñ š ú Ÿ Ÿ ½ ¾ Ÿ ºÍ ñ ù œ ¹ ê ç ½ ç ñ ¹š ˆÅ Äœ ˆÅ ½ ˆÅú ¹ ˆÅ ç ¹Ÿ ¹ ñ ÿˆå ½ ¹ ½ ç ñ š ú Ÿ Ÿ ½ ¾ Ÿ ºÍ ñ ù œ ¹ ê ½ ˆ½Å ç ñ š Ÿ ½ ˆÅ Äœ ˆÅ ½ ˆÅú ¹ ˆÅ ç ¹Ÿ ¹ ˆÅ Š ¹ˆÅ ª¾. Æ ç ¹Ÿ ¹ ç œ ª ˆ½Å ¾ ¹ˆÅ Š ¹ ½ ¹ ¹š œïñ š ç ñ š ú 3.5 for monitoring Large Value Frauds The Bank constituted a for monitoring large value frauds on 24 th January The reviews the large value frauds in the Bank when such incidences takes place and preventive measures are taken. As on March 31, 2005 Shri M. V. Nair was the Chairman of the and Shri R. Rengnath, Shri Atul Ashok Galande and Shri S. C. Wadhwa were other members of the. During the year under review, the met on 2 occasions. 3.6 Share Transfer The Bank constituted a of Directors for approval of share transfers recommended by the Internal Share Transfer Scrutiny on As on March 31, 2005 Shri M. V. Nair was the Chairman of the and Shri S. C. Wadhwa and Shri C. M. Dixit were other members of the. During the year under review, the met on 12 occasions. 3.7 Customer Service The Bank constituted a of Directors for review of Customer Service in the Bank on 13/09/ The reviews the customer services in the Bank and reviews the progress in attending to customer complaints and grievances. It also considers new measures for improvement including external issues. As on March 31, 2005 Shri M. V. Nair was the Chairman of the and Shri R. Rengnath, Shri B.T.R. Reddy and Shri C. M. Dixit were the members of the. During the year under review, the met on 1 occasion and all four Directors attended the meeting 4. s of Executives For proper and efficient functioning of day to day functions of the Bank, the Bank has also formed various in-house s. Some of the in-house s are as under: 4.1. In-house of Executives on Investments and Money Market Operations The Bank has constituted an In-house of Executives for Investment and Money Market Operations. The said reviews all the deals 44

12 ç ð ú ½ - ½ Ÿ Ÿ ½ ˆÅú ç Ÿ ú ˆÅ ú ª¾ ¾ ç Ÿ -ç Ÿ œ ˆÅ ¹ ¹ ½Ä œï ˆÅ ú ª¾. ç ¹Ÿ ¹ ˆÅú š ˆÅ Äœ ˆÅ ¹ ½ ˆÅ ¾ ˆÅú ºœ ¹ç ¹ Ÿ ½ ç ¹Ÿ ¹ ˆ½Å ¹ ß Ÿ Ÿ ª œïñ š ˆÅ ˆÅ ½ ªÿ. ½ê ß Ä ˆ½Å ¾ ç ¹Ÿ ¹ ˆÅú 52 ñ ¾ ˆ½ Å ½¹ù ªºƒô. 4.2 ¹ç ½ œïñ š ç ¹Ÿ ¹ ñ ÿˆå ½ ¹ç ½ œïñ š ç ¹Ÿ ¹ ( ç ú ½) ˆÅ Š ¹ˆÅ ª¾. ˆÅ Äœ ˆÅ ¹ ½ ˆÅ ¾ ˆÅú ºœ ¹ç ¹ Ÿ ½ ç ¹Ÿ ¹ Ÿ ½ ¹Ÿ ¹ ß Ÿ Ÿ ª œïñ š ˆÅ ˆÅú š Ÿ ½ ç ¹Ÿ ¹ ˆ½Å ˆÅ ½ Ä Ÿ ½ ñ ½ ˆ½Å ç -ç ñ ù ù ½¹ Ÿ œïñ š, ¹ç ½ ½ ˆÅú ñ ù ç ½ ú œ ¹ Š ú ñ ù ½ ¹ ˆÅ ¹ š Ä µ ç ¹ŸŸ ¹ ª¾. ˆÅ Ä Ÿ ˆÅ Ÿ ª œïñ š ˆÅ œïš ˆÅ Ä ˆ½Å ˆÅ Äœ ˆÅ ç ¹Ÿ ¹ ˆ½Å ç ç ªÿ. ½ê ß Ä ˆ½Å ¾ ñ ÿˆå Ÿ ½ Ÿ ˆÅ Ä Ÿ ½ œïš ¹ ç ñ š ú ¹ ê -¹ Ÿ Ä ç Ÿ ú ˆÅ ½ ª½ º ç ¹Ÿ ¹ ˆÅú 6 ñ ¾ ˆ½ Å ½¹ù ªºƒô. 4.3 ¹ ˆÅ ½ µ ç ¹Ÿ ¹ ñ ÿˆå ½ ½ ½ ˆ½Å µ ˆÅ ºŸ ½ ˆÅ ½ ˆ½Å ¹ ñ ÿˆå ˆ½Å ˆÅ Äœ ˆÅ ½ ˆÅú ¹ ˆÅ ½ µ ç ¹Ÿ ¹ ˆÅ Š ¹ˆÅ ª¾, ù ½ ñ ÿˆå ˆ½Å ½ µ ù ½ ½ ç ç ¹š ¹ˆÅ ù ½ ªÿ. ç ¹Ÿ ¹ ç Ÿ -ç Ÿ œ ñ ½ˆÅ Š ù úˆå µ ˆÅú ¹ Ÿ ½ ªºƒÄ œïš ¹ ˆÅú ¹ç ¹ ¾ ñ ÿˆå ˆ½Å ½ ½ ˆ½Å Ÿ Þ ½ Ÿ ½ ªºƒÄ -ñ éõ ˆÅú ð ú ç Ÿ ú ˆÅ ú ª¾. Ÿ ª œïñ š ˆÅ (¹ ½ ¹ ¹š œïñ š ½ ), ç ª ˆÅ Ÿ ª œïñ š ˆÅ (¹ ¹š ), ç ª ˆÅ Ÿ ª œïñ š ˆÅ (Ÿ è ç ¹ê ) ¹ ß œïñ š ˆÅ (¹ ½ ˆÅ ç œ ˆÄÅ ˆ½Å Í ŠÏ ªˆÅ ç ½ ¹ ð Š ) ç ¹Ÿ ¹ ˆ½Å ç ç ªÿ. Ÿ ª œïñ š ˆÅ (¹ ½ ¹ ¹š œïñ š ½ ) Æ ç ¹Ÿ ¹ ˆ½Å š ªÿ. ½ê ß Ä ˆ½Å ¾ ç ¹Ÿ ¹ ˆÅú 20 ñ ¾ ˆ½ Å ç Ÿœ ªºƒô. 4.4 œ ¹ ç ç ñ š ú Ÿ Ÿ ½ œ ˆÅ Äœ ˆÅ ½ ˆÅú ¹ ˆÅ ç ¹Ÿ ¹ ˆÅ Äœ ˆÅ ½ ˆÅú ¹ ˆÅ ç ¹Ÿ ¹ ˆÅ Š ¹ ½ ˆÅ Ÿ è ˆ½Å ºŸ ½ ˆ½Å ºç ¹ ˆÅ 01 ¹ç Ÿñ, 1994 ˆÅ ½ ¹ˆÅ Š ¾ ç ¹Ÿ ¹ ˆÅ ç Ÿ -ç Ÿ œ œ º Š Ä ¹ˆÅ ù ª¾. ç ¹Ÿ ¹ ˆ½Å Ÿ º ˆÅ Ä ñ ÿˆå ˆ½Å œ ¹ ç ½ ù ¾ç ½ œ Ø ˆ¼Å œ ¹ ç ½ ˆÅ ¹š ŠÏªµ, œ Ø úˆå µ ¾ œ Ø ˆ¼Å œ ¹ ç ½ ˆÅ ½ œ ç ¾ ½ ç ½ ç ñ ¹š ª ½ ½ ªÿ. š œïñ š ¹ ½ ˆÅ ( ¹ ¹ Æ œïð ), Ÿ ª œïñ š ˆÅ (œ ¹ ê ¾ ½ù ), Ÿ ª œïñ š ˆÅ (¹ ½ ¹ ¹š œïñ š ) Ÿ ª œïñ š ˆÅ (ç ), Ÿ ª œïñ š ˆÅ (ç Þê œï ¾Ô ½¹Š ˆÅú ˆÅ ¹Ÿ ĈÅ) ç ª ˆÅ Ÿ ª œïñ š ˆÅ (ç Ÿ œï ç ¹ ð Š ) ç ¹Ÿ ¹ ˆ½Å ç ç ªÿ. š œïñ š ¹ ½ ˆÅ ˆÅú ºœ ¹ç ¹ Ÿ ½ ˆÅ Äœ ˆÅ ¹ ½ ˆÅ ç ¹Ÿ ¹ ˆ½Å š ªÿ. ½ê ß Ä ˆ½Å ¾ ç ¹Ÿ ¹ ˆÅú 8 ñ ¾ ˆ½ Å ªºƒô. / transactions and the matters relating to investments & funds management transactions made during the week and periodically gives necessary guidelines. The is chaired by Executive Director and in his absence, by the senior most General Manager in the. During the year under review, the met on 52 occasions. 4.2 Assets Liability The Bank has constituted Assets Liability (ALCO) with Executive Director as Chairman of the and in his absence, by senior most General Manager in the committee. The functions of the interalia, include overseeing market risk management, interest rate sensitivity of assets and liabilities and fixation of interest rates etc.. The functional General Managers and other executives from the Head Office are other members of the. During the year under review, the met on 6 occasions to discuss and review the progress of ALM implementation in the Bank. 4.3 In-House Share Transfer Scrutiny The Bank has constituted an In-House Share Transfer of the executives of the Bank for approving the share transfer, which are processed by the Share Transfer Agent of the Bank. The also periodically reviews the progress of the demat position and movement in share prices of the Bank. General Manager (IFM & Accounts), Asst.Gen.Manager (Legal), Asst.Gen.Manager (Board Secretariat) and Senior Manager (IRC & CSD) are the members of the. General Manager (IFM & Accounts) is the Chairman of the. During the year under review, the met on 20 occasions. 4.4 Internal of Executives on Premises The Internal of Executives on Premises was constituted on September 01, 1994 as per approval of the Board of Directors and the is reconstituted from time to time. The main functions of the relates to premises of the Bank such as acquisition of leased premises, renewal of lease and surrender of leased premises etc. Chairman & Managing Director (Additional Charge), General Manager (Operations & Planning), General Manager (IFM), General Manager (Credit), General Manager (I.T. & Personnel) and Assistant General Manager (GAD) are the members of the. The Chairman & Managing Director or in his absence the Executive Director of the Bank is the Chairman 45

13 5. ¹ ½ ˆÅ ½ ˆ½Å œ ¹ ý¹ÿ ˆÅ š œïñ š ¹ ½ ˆÅ ¾ ˆÅ Äœ ˆÅ ¹ ½ ˆÅ ˆÅ ½ ð ç ˆÅ ˆ½Å ÄŸ ¹ ¹ ½Ä ½ ˆ½Å ºç ç ½ / œ ¹ ý¹ÿ ˆÅ ˆÅú Š ú ˆÅú ù ú ª¾ ñ ÿˆå ˆ½Å ¹ ½ ˆÅ Ÿ è ç ¹Ÿ ¹ ½ ˆÅú ñ ¾ ˆÅ ½ Ÿ ½ œ ¹ç ª ½ ˆ½Å ¹ ¹ˆÅç ú œïˆå ˆ½Å ñ ¾ ˆÅ º ˆÅ ˆÅú Š ú ªì ˆÅú ù ú. ž ú ¹ { Ä ÿˆå ˆ½Å ¹Ÿ ¹ ¹ ½ ˆÅ ¾ ˆÅ ú ¹ ½ ˆÅ ˆÅ ½ Ž ½ õˆå ž ú Š ¾ -ˆÅ Äœ ˆÅ ¹ ½ ˆÅ ½ ˆÅ ½ ž ˆÅ ˆ½Å ¹ ¹ ½ ½ ˆ½Å º, ¹ ½ ˆÅ Ÿ ˆÅú œï ½ˆÅ ¾ ˆÅ Ÿ ½ ž Š ½ ½ ˆ½Å ¹ ³ ¹ˆÅ ú ¹Ÿ ¹ ˆÅú ¾ ˆÅ Ÿ ½ ž Š ½ ½ ˆ½Å ¹ ³ ˆÅ ž ºŠ ¾ ˆÅ º ˆÅ ˆ½Å ³œ Ÿ ½ ¹ˆÅ. ç ð ú Š ¾ -ˆÅ Äœ ˆÅ ¹ ½ ˆÅ ½ ˆÅ ½ ž ú œ ÄºÆ ¹ ¹ ñ ¾ ˆÅ º ˆÅ ˆ½Å ¹ ¹ Æ ñ ¾ ˆÅ ½ Ÿ ½ ð Š ½ ½ ˆ½Å ¹ ˆ½Å ç ú,, ¹ Ÿ ¹ œ ¹ˆÅ Š ê Ä ˆÅú œï¹ œ Þ¹ Ä ˆÅú ù ú ª¾. Š ¾ -ˆÅ Äœ ˆ ¹ ½ ˆÅ ½ ˆ½Å œ ¹ ý¹ÿ ˆÅ ç ½ ç ñ ¹š ç ð ú Ÿ Ÿ ½ ß ïú ˆ¼Å ñ ÿˆå (œïñ š ¹ ¹ š œï š ) ½ù, 1970 Ÿ ½ ç Ÿ ¹ ß œï š ½ ¹š ¹ç ¹ˆÅ ù ½ ªÿ. 6. ç š µ ç 𠹜 ø ½ ú ß ½ Ä ˆÅú ¹ß ÄˆÅ ç š µ ñ ¾ ˆÅ ½ ˆÅ ñ ¾ úê ½ ¹ Š ª¾ :- ñ ¾ ˆÅ ½ ˆÅ ñ ¾ ú ¾ ç Ÿ ç ì ¹ß ÄˆÅ Š º², 17 ù Þ, 2004, ç š µ ç ð œ ª 3.00 ñ ù ½ ç ì ¹ß ÄˆÅ ç š µ ç ð ºÇÅ, 08 Š ç, 2003, œ ª 4.00 ñ ù ½ ø ú ¹ß ĈŠºÇÅ, 12 ù º ƒä, 2002, ç š µ ç ð œ ª 3.00 ñ ù ½ ç š µ ç š µ ç ð (ê ½ š ˆÅ ¹ ½ ˆÅ ½ ˆÅ ê º ) ç š µ ç š µ ç ð (¹ ú ç Äù ¹ ˆÅ ¹ Š ÄŸ ˆ½Å ¹ ½ š ˆÅ ½ ˆÅ ºŸ ½ ) ¹, 18 ù ú, 2003, œ Þ Ä ª ñ ù ½ Ÿ Š, 25 Ÿñ, 2003, œ ª 4.00 ñ ù ½ ç ð Š ¼ª, ç ç ½ ñ ù ú œ ½ê ñ ÿˆåç Ä ï½¹ Š ˆÅ Á ½ù, ù ½. ú.œ ú.èú. çˆåúÿ, ¹ ½ œ ½Ä (œ ¹ ê Ÿ ), Ÿ º ñ ƒä œïˆå 31 Ÿ ê Ä, 2005 ˆÅ ½ ç Ÿ œ ¹ î ß Ä Ÿ ½ ñ ÿˆå ¾ ç ˆ½Å ¹ ½ ˆÅ ½ ˆ½Å ñ úê ¹ˆÅç ú œïˆå ˆ½Å Ÿ ª œ Þµ Ä ç ñ ¹š œ ˆ½Å ½ - ½, ¹ ĈŠ½ - ½ ç ñ š ˆÅú ˆÅ ½ƒÄ ½ç ú ªì ªºƒÄ, ¹ù ç ˆÅ œ ˆÅ ³œ ç ½ ñ ÿˆå ˆ½Å ¹ª ½ ˆ½Å ç ç ð ˆÅ ª ½. ñ ÿˆå Š ¾ - ºœ ç ½ ç ñ ¹š ˆÅ ½ƒÄ Ÿ Ÿ œïˆå Ÿ ½ ªì ª¾ ½ ñ ù / ç ½ñ ú ¹ˆÅç ú ç ¹ ¹š ˆÅ œï ¹š ˆÅ µ ß Ä Ÿ ½ ªºƒÄ ˆÅ ½ ø ½èõˆÅ ¹œ ø ½ ú ß ½ Ä of the. During the year under review, the met on 8 occasions. 5. Remuneration of Directors The Chairman & Managing Director and the Executive Directors are paid salary / remuneration as per extant guidelines of the Government of India and are not paid sitting fees for attending the Board and other meetings of the Bank. All other Non-Executive Directors except RBI nominee Director and Government Director were paid sitting fees of Rs.5,000/- for attending each Board Meeting and Rs.2,500/- each for attending any other meeting respectively as per guidelines of the Government of India. All the Non-Executive Directors are also reimbursed the expenses incurred by them towards conveyance, traveling, halting etc., for attending the meetings in addition to sitting fees as mentioned above. All matters relating to remuneration of Non-Executive Directors are governed by the provisions contained in the Nationalised Banks ( & Miscellaneous Provisions) Scheme, General Body Meetings The details of the last three Annual General Meetings are given as below : Details of the Meeting Date & Time Venue Eighth Annual Thursday, General Meeting 17th June, 2004 at 3.00 p.m. Seventh Annual Friday, General Meeting 8th August,2003 at 4.00 p.m. Sixth Annual Friday, General Meeting 12th July, 2002 at 3.00 p.m. Extraordinary General Saturday,18 th Meeting (Election of January, 2003 four share holder at11.00 a.m. Directors) Extra ordinary General Tuesday, 25 th Meeting (Approval of November, 2003 shareholders for at 4.00 p.m. Second Public Issue) Auditorium, Sir Sorabji Pochkhanawala Bankers Training College, J.V.P.D. Scheme, Vile Parle (W), Mumbai Disclosures : There have been no significant related party pransactions, pecuniary transactions or relationship between the Bank and its Directors for the year ended March 31,2005 that may have a potential conflict with the interest of the Bank at large. There were no cases of non-compliance by the Bank and no penalties / strictures were enforced on the bank by Stock Exchange / SEBI or any other statutory authority on any matter related to the capital markets during the last three years except in the year

14 ˆ½Å ¾ œ Þ ù ú ñ ù ½ ç ½ ç ñ ¹š ¹ˆÅç ú ð ú Ÿ Ÿ ½ Ÿ ½ ñ ÿˆå œ ¹ˆÅç ú œïˆå ˆÅ ù ºŸ Ä / ½œ ªì Š Š ; ð ú œï¹ ð Þ¹ ¹ ¹ Ÿ ñ ½èÄ (ç ½ñ ú) ½ ç ½ñ ú (¹ˆÅç ú ¹ Š ÄŸ ñ ÿˆå ) ¹ ¹ Ÿ 1994 ˆ½Å ¹ ¹ Ÿ 28(3) ˆ½Å ª ñ ÿˆå ˆÅ ½ ¹ˆÅç ú ¹ Š ÄŸ ñ ÿˆå ˆ½Å ³œ Ÿ ½ œ ½ ˆÅ Ä- ª ˆ½Å ç ñ š Ÿ ½ ¾ ¹š ˆÅ ç š ú œ ñ ú ù ½ ˆÅú ê ½ ú ú ú. Æ ê ½ ú 1994 Ÿ ½ Ÿ ½ç ç Ä ç ˆ½Å Æç ïóù ¹ ¹Ÿ ½è ˆ½Å ç Äù ¹ ˆÅ ¹ Š ÄŸ Ÿ ½ ¹ ¹ Ÿ ½ ˆÅ ºœ ¹ˆÅ ù ½ ˆ½Å ¹ ú Š ƒä ú ¹ù ç Ÿ ½ ñ ÿˆå Æ ¹ Š ÄŸ ˆ½Å ñ ÿˆå ½ Ÿ ½ ç ½ ˆÅ. ç ½¹š ç ½ñ ú (ð ½¹ œ ¹ ½œ ) ¹ ¹ Ÿ 1992 ˆ½Å ¹ ¹ Ÿ 12(1) ˆ½Å ºç µ Ÿ ½ ñ ÿˆå ½ ð ½¹ œ ˆÅ ½ ½ˆÅ ½ ˆ½Å ¹ ¹ ˆÅ ˆÅ Ĺ ¹š ê µ ç ¹ª ˆÅ ˆÅ Ä ¹ˆÅ ª¾ ñ ÿˆå ˆÅú œï¹ ð Þ¹ ½ Ÿ ½ ¹ ˆÅ œ ˆÅ ½ ½ˆÅ ½ ˆ½Å ¹ ˆÅ œ ½Ä ½ œïˆå ª½ º ˆÅ Ĺ ¹š ð ú ¹ š Ĺ ˆÅú ª¾. 8. ç œï½ß µ ˆ½Å ç š ñ ÿˆå œ ½ ç ç ½ ¾ ù ½¹ Ÿ š ˆÅ ½ ˆÅ ½ ˆ½Å ¹ª ½ ç ½ ç ñ ¹š ½ ç ½ ª½ Š ½ ˆÅú ˆÅ ˆÅ ½ Ÿ ª ½ ª¾. ñ ÿˆå ˆ½Å ¹ Ÿ ªú / ÖÄ ¹ß ĈŠ/ ¹ß ĈŠœ ¹ µ Ÿ ¹ š Ĺ ç Ÿ ç úÿ Ÿ ½ ç ÁˆÅ Æç ê ½ ù ½ Ÿ ½ œïç º ¹ˆÅ ù ½ ªÿ ù ª  ñ ÿˆå ˆ½Å ½ ç Þê úñ Ö ªÿ. ƒç ˆ½Å ç ªú ¹ Ÿ ªú / ÖÄ ¹ß ĈŠ/ ¹ß ĈŠœ ¹ µ Ÿ ç ¹ ¹š ˆÅ œ ½ ½ ˆ½Å º³œ Ÿ º ñ ƒä ¹ç ˆÅ ¹ î ú ç Ÿ ê œ ˆÅ ç ú ç Ÿ ê œ Ÿ ½ ð ú œïˆå ¹ ¹ˆÅ ù ½ ªÿ. ñ ÿˆå œ ½ ¹ß ĈŠœ ¹ µ Ÿ ½ ˆÅú ˆÅ Š ù ú œï¹ ½ š ˆÅ ½ ˆÅ ½ ð ú œ ñš ˆÅ ª¾. ¹ Ÿ ªú / ÖÄ ¹ß ĈŠ/ ¹ß ĈŠœ ¹ µ Ÿ ˆ½Å ç -ç ½ š ¹ ˆÅ ç ³œ ¾ ½ Ÿ Þ ñ ÿˆå ˆÅú ½ñ ç ƒ Ä Ã œ ð ú œï ¹ Ä ¹ˆÅ ù ½ ªÿ. ª ñ ÿˆå ˆ½Å ñ ½ Ÿ ½ ˆÅ Ä ú ç Ÿ ê Ÿ ª œ Þµ Ä ¹ µ ð ú œï ¹ Ä ˆÅ ª¾. œïñ š ˆ½Å ¹ -¹ Ÿ Ä ¾ ¹ ½ß µ ¹ß ĈŠ¹ œ ½ Ä ˆÅ ¹ªçç ñ ½ ªÿ. 9. ½ š ˆÅ ˆ½Å ¹ ç Þê  ñ ÿˆå ˆÅ ºç Þ¹ê ¹µ ¹ù ˆÅ ñ ÿˆå ª¾ ¹ù ç ˆÅ œïš ˆÅ Ä Ÿ º ñ ƒä Ÿ ½ ª¾. ñ ÿˆå ˆÅú œ ¹ç ¹ ƒç ˆÅú 1123 ½ ˆ½Å ½ ˆÄÅ ç ¹ª ½ ˆ½Å ç Ÿ ç ¹ªçç ½ Ÿ ½ ª¾. ñ ÿˆå ˆÅ½ ƒ¹æ ú ½ Ÿ º ñ ƒä ˆ½Å ½ ñ ù (ñ ú ç ƒä), ð ú ß ïú ½ ñ ù ( ç ƒä), ¹ ú ½ ñ ù ç Š (èú ç ƒä) ½ ñ ù, ªŸ ñ ( ç ƒä) Ÿ ½ ç Þê úñ Ö ª¾ ƒ ˆ½Å ç ÁˆÅ ¹çÇÅœ ˆÅ ½è ¹ Ÿ ºç ªÿ :- 2002, when Securities and Exchange Board of India (SEBI) has, under regulation 28(3) of the SEBI (Bankers to an Issue) Regulations, 1994, issued a warning to the Bank to exercise more care and diligence in its dealings as Banker to Issue. The warning was issued for non-compliance of the regulations in the public issue of M/s. Saket Extrusion Limited in 1994, wherein the bank was one of the bankers to the Issue. Pursuant to Regulation 12(1) of the SEBI (Prohibition of Insider Trading) Regulations, 1992 as amended, the Bank has implemented a Code of Internal Procedure and conduct for prevention of insider trading and also laid down the procedure for Corporate Disclosures for prevention of insider trading in the securities of the Bank. 8. Means of Communication: The Bank recognizes the need for keeping its members and stakeholders informed of the events of their interests. Quarterly / Half Yearly / Annual results of the Bank are submitted to the Stock Exchanges where the shares of the Bank are listed, within the stipulated time frame. Further the quarterly results / half-yearly / annual results are also published in a financial newspaper and a regional language newspaper based at Mumbai as per the statutory requirement. The Bank also furnishes the physical copy of the annual results to the Shareholders. The quarterly / half-yearly / annual results as well as shareholding pattern and share prices are also displayed on website of the Bank i.e., It also displays official news releases and other important details about the Bank. Discussion and Analysis forms the part of the Annual Report. 9. Shareholder information The Bank is a scheduled commercial Bank having its Head Office at Mumbai. The Bank has its presence in all parts of the country with a network of 1123 branches. The Equity shares of the Bank are listed on The Stock Exchange, Mumbai (BSE), National Stock Exchange of India Limited (NSE), The Delhi Stock Exchange Association Limited (DSE) and The Stock Exchange Ahmedabad, (ASE) and its stock scrip code is as follows. ½ Stock Exchange ûå Alpha ˆ ½è Code ÞŸ ½¹ ˆÅ Numeric SSmeF& ASE osveeyeerkesâ DENABK yeersmef& BSE osvee yeqkeâ DENA BANK [ersmef& DSE osvee yeqkeâ DENA BANK SveSmeF& NSE osveeyeqkeâ DENABANK 47

15 9.1 ½ ½ ˆÅ ñ ½ˆÅ Š ù úˆå µ ñ ÿˆå ˆ½Å ½ ½ ˆÅ ç ˆÅ ³œ ç ½ ñ ½ˆÅ Š ù úˆ¼å ç ³œ Ÿ ½ ¹ˆÅ ù ª¾. ù úˆå Ä ñ ÿˆå ˆ½Å ³œ Ÿ ½, ñ ÿˆå ½ ½ ½ ˆ½Å ñ ½ˆÅ Š ù úˆå µ ˆ½Å ¹ ç èú ¾ ç úèú ç ˆ½Å ç ˆÅ ˆÅ ¹ˆÅ ª¾. ç ½ñ ú ¹ ¹ ½Ä ½ ˆÅú ½ Ä ˆ½Å ºç, ñ ÿˆå ˆ½Å ½ µ ¹ð ˆÅ Ä ð ú ñ ÿˆå ˆ½Å ½ š ˆÅ ½ ˆÅ ½ µ / ñ ½ˆÅ Š ù úˆå µ / œ º ˆÅ ÄŠ ù úˆå µ ˆÅú ç º¹ š ½ ª½ ªÿ. ¹ ˆÅ ˆÅ ñ ÿˆå ˆ½Å ½ š ˆÅ ½ ¹ù Ÿ ½ ç ½ ñ ÿˆå ˆ½Å ½ š ˆÅ œ ½ ½ ˆÅ Š ù ú ³œ Ÿ ½ š µ ¹ˆÅ ªº ½ ¾ ½ š ˆÅ ½ ½ œ ½ ½ èúÿ ½ ³œ Ÿ ½ ½ ªº ½. ˆºÅ ½ ½ Ÿ ½ ç ½ ½ ð ç ˆÅ ¹ ªº ª¾ ù ñ ¹ˆÅ ½ß ½ ù / ¹ î ú ç ç ½ / ¹ ç ú ð ú ½ ƒ ¹ š µ ¹ˆÅ ªº ª¾ ¾ Ÿ ½ ç ½ (87.14%) ½ ƒ ½Æ ï Á¹ ˆÅ ³œ (12.86%) ½ ˆÅ Š ù ú ³œ Ÿ ½ ¹ Ô Ÿ ªÿ. 9.2 ½ ªç µ œ Ö¹ ¾ ¹ ½ ˆÅ ½ ˆÅú ¹ ˆÅ ½ ˆÅ ¹ µ ñ ÿˆå ½ Ÿ ½ç ç Ä ½ œï ½ ç ¹ Äç ½ù (ƒ¹µè ) œï ƒ ½ ¹ ¹Ÿ ½è ˆÅ ½ ñ ÿˆå ˆ½Å ½ µ ù ½ ˆ½Å ³œ Ÿ ½ ¹ ºÆ ¹ˆÅ ª¾ ¾ ½ ªç µ / œï½ß µ, ð 𠺊 ¾ ¹ ½ ˆÅ ç ñ š ú ç ð ú ˆÅ Ä ªŸ ½ ¹ù ç ï µ ù ½ ˆ½Å ˆÅ Ä ¹ˆÅ ù ½ ªÿ. ½ µ ù ½ ¹ ½ ˆÅ ½ ˆ½Å º ½š ½ œ ˆÅ Ä ƒä ˆÅ ½ ˆ½Å ñ ª½ ñ ÿˆå ˆ½Å ˆÅ Äœ ˆÅ ½ ˆÅú ½ µ ç ¹Ÿ ¹ ˆ½Å ç Ÿ ª¾ ¾ ª ç ¹Ÿ ¹ ñ ÿˆå ˆ½Å ½ ½ ˆ½Å ªç µ / œï½ß µ ¹ ˆÅ ºŸ ½ ˆÅ ú ª¾. ½ š ˆÅ œ ½ µ ¹ ½ ¾ ¹ ˆÅ ç ¹ª ˆÅ ½ƒÄ œï ½ ñ ÿˆå ˆ½Å ¹ù ç ï ½ µ ù ½ ˆ½Å ¹ Ÿ ¹ ¹ œ ½ œ ð ½ù ç ˆÅ ½ ªÿ ¾ ƒç ç ½ ç ñ ¹š œ ê ð ú ¹ ˆÅ ½ƒÄ ª ½, ç ½ ñ ÿˆå ˆ½Å ¹ ½ ˆÅ ç œ ˆÄÅ ˆ½Å Í ˆ½Å úê ½ ¹ Š œ ½ œ ˆÅ ç ˆÅ ½ ªÿ. Ÿ ½ç ç Ä ½ œï ½ ç ¹ Äç ½ù (ƒ¹µè ) œï ƒ ½ ¹ ¹Ÿ ½è Þ¹ - ½ ñ ÿˆå,ç Ÿ ç ½, ¼ ú,ñ ÿˆå ÁûÅ ñ èõ ¾ ˆ½Å œ,ˆå ¹èÄ ŠÏ½¹ ç ½è, ê ˆÅ, š ½ ú (œ Þ Ä), Ÿ º ñ ƒä ½ úûå ½ : , û¾åæç : ¹ î ú ˆ¾Å ½µè ¹ ½ ˆÅ ç œ ˆÄÅ ˆ½Å Í, ½ ñ ÿˆå, œïš ˆÅ Ä, ½ ˆÅ Áœ ½Ä ½ ç ½,ç ú-10, ù ú ñ ÁˆÅ, ñ Í -ˆºÅ Ä ˆÅ ÁŸœ ½Æç, ñ Í (œ Þ Ä), Ÿ º ñ ƒä ½ úûå ½ : /19/20 ½ úû¾åæç : ¹ î ú ß Ä 01 œï¾, 2004 ç ½ 31 Ÿ ê Ä, 2005 ˆÅ ½ ½ œ ¹ ê ˆÅ ½ ð ¹ ˆÅ ½ƒÄ ª ½, ˆÅú ç ç º¹ ˆÅ ½ ˆ½Å ¹ Ÿ è ˆÅú ñ ¾ ˆÅ 20 Ÿ ƒä, Dematerialisation of Shares The shares of the Bank are traded compulsorily in dematerialised mode. The Bank, as an issuer, has entered into agreements with NSDL and CDSL for dematerialization of shares. In terms of SEBI guidelines, the Share Transfer Agent of the Bank is also extending the facility of transfer/ dematerialization / rematerialisation etc., to shareholders of the Bank. As on the Bank had 2,43,967 shareholders out of which 65,101 shareholders of the Bank had been holding their shares in physical form and 1,78,866 shareholders held shares in demat mode. Out of 28,68,23,200 shares, 14,68,20,000 shares are held by Government of India and the remaining 14,00,03,200 shares are held by the public/ FIIs/NRIs etc out of which 12,20,00,695 (87.14%) shares are in electronic mode and 1,80,02,505 (12.86%) shares are in physical mode 9.2 Share Transfer System and Redressal of Investor Grievances. The Bank has appointed M/s. Sharepro Services (India) Private Limited as Share Transfer Agent of the Bank and the share transfers / transmission, dividend payments and all other investors related matters are attended to and processed at the office of Share Transfer Agent of the Bank. The Share Transfer Agents, after processing the requests of investors, put the same to Share Transfer of the Executives of the Bank which approves the transfer / transmission etc. of shares of the Bank. Shareholders may lodge their transfer deeds and any other document, including complaints at the following address of Registrar & Share Transfer Agent of the Bank and also refer correspondence if any, at the Bank s Investor Relations Centre at the address given below. M/s. Sharepro Services Investor Relations Centre, (I) Pvt., Dena Bank, Unit-Dena Bank, Head Office, Satam Estate, 3rd Floor, Dena Corporate Centre, Above Bank of Baroda, C-10, G Block, BKC, Cardinal Gracious Road, Bandra (E), Chakala, Andheri (East), Mumbai Mumbai Tel.: /19/20 Tel , Telefax: Fax: Financial Calendar: Financial Year April 1, 2004 to 31st March, 2005 Board Meeting for considering the Accounts and recommendation of dividend, if any May 20,

16 ñ ú ˆÅú ú ½ ç ½ Ÿ º ú œï ³œ œï œ ˆÅ ½ ˆÅú ¹ Ÿ ¹ ¹ 02 ù º ƒä, ì ¹ß ÄˆÅ Ÿ ñ ¾ ˆÅ ˆÅú ú 08 ù º ƒä, 2005 œï ½ˆÅ ¹ Ÿ ªú ˆ½Å Ÿ ½ ¹ð ½ ñ ÿˆå ˆÅú œï ½ˆÅ ¹ Ÿ ªú Ÿ ½ ½ ½ ª½ º ¹ ½ ˆÅ Ÿ è ˆÅú ˆ½Å Ÿ œ ½ ½ ½ ˆÅ ñ ¾ ˆÅ ˆÅú ¹ ¹ Ÿ ª ˆ½Å 9 ì ¹ß ÄˆÅ Ÿ ç ð Š ¼ª, ç ç ½ ñ ù ú ñ ¾ ˆÅ ˆÅ ç œ ½ê ñ ÿˆåç Ä œï¹ µ Ÿ ª ¹ Ô, ˆÞÅœ çœ ˆ½Å ç Ÿ úœ,ù ½. ú.œ ú.èú. ½ù, ¹ ½ œ ½Ä (œ ¹ ê Ÿ ) Ÿ º ñ ƒä ç.ƒä. ˆ½Å Ÿ š Ÿ ç ½ ú ½ / ñ ½ê ½ Š ½ ½ ˆÅú ç ¾ ˆÅúŸ ¹š êê ². ¹ Ÿ ². ú ½ / ñ ½ê ½ Š ½ ½ ˆÅú œï¾, Ÿ ƒä, ù Þ, ù º ƒä, Š ç, ¹ç Ÿñ, Æ Þñ, Ÿñ, ¹ ç Ÿñ, ù ú, ûå ú, Ÿ ê Ä, ß Ä ˆ½Å ¾ ç ½Äêê ² ß Ä ˆ½Å ¾ Þ Ÿ ² ñ ú. ç.ƒä. ˆ½Å Ÿ š Ÿ ç ½ ú ½ / ñ ½ê ½ Š ½ ½ ˆÅú ç ¾ ˆÅúŸ ¹š êê ². ¹ Ÿ ². ú ½ / ñ ½ê ½ Š ½ ½ ˆÅú œï¾, Ÿ ƒä, ù Þ, ù º ƒä, Dates of Book Closures 01/07/2005 to 08/07/2005 Last date for receipt of proxy form 2 nd July 2005 Date of Ninth Annual General Meeting 8 th July 2005 Board Meeting for taking on record quarterly results of the Bank Venue of Ninth Annual General Meeting Within one month from the end of each quarter Auditorium, Sir Sorabji Pochkhanawala Bankers Training College,Near Cooper Hospital, J.V.P.D. Scheme, Vile Parle (West), Mumbai Shares Price and Volume of Shares traded on NSE Period High Rs. LowRs. Volume of shares traded April May June July August September October November December January, February, March, Highest during the year Rs Lowest during the year Rs Shares Price and Volume of Shares traded on BSE Period High Rs.LowRs. Volume of shares traded April May June July

17 Š ç, ¹ç Ÿñ, Æ Þñ, Ÿñ, ¹ ç Ÿñ, ù ú, ûå ú, Ÿ ê Ä, ß Ä ˆ½Å ¾ ç ½Äêê ² ß Ä ˆ½Å ¾ Þ Ÿ ² ¹ ˆÅ 31 Ÿ ê Ä, 2005 ˆÅ ½ ½ š ¹ ˆÅ ç ³œ ñ ÿˆå ˆ½Å ƒ¹æ ú ½ Ÿ º ñ ƒä ½ ñ ù, ß ïú ½ ñ ù, ¹ ú ½ ñ ù ªŸ ñ ½ ñ ù Ÿ ½ ç Þê úñ Ö ªÿ. ñ ÿˆå ½ ƒ ½ ñ ù ½ ˆÅ ½ 31 Ÿ ê Ä, 2005 ˆÅ ½ ç Ÿ œ ß Ä ª½ º ¹ß ĈŠç Þê úñ Ö º ˆÅ ˆÅ 𠺊 ¹ˆÅ ª¾. 31 Ÿ ê Ä, 2005 ˆÅ ½ ç Ÿ œ ß Ä ª½ º ñ ÿˆå ˆÅ ½ š ¹ ç ³œ ¹ Ÿ œïˆå ª¾ : August September October November December January, February, March, Highest during the year Rs Lowest during the year Rs Shareholding Pattern as on March 31, 2005 The Equity shares of the Bank are listed on BSE, NSE, DSE and ASE. The Bank has paid the Annual Listing Fees to these Stock Exchanges for the year 31 st March The shareholding pattern of the Bank as on March 31, 2005 is as follows: ÇÅŸ ˆÅ ½ š ˆÅ ½ ˆÅú ý½µ ú ½ ½ ˆÅú ç ½ š ¹ ˆÅ % SR. Category of the Shareholders Nos of % of shares No. Shares held holding A. œï ĈŠš ¹ Promoter s holding 1. ð ú œï ĈŠ/ ð ç ˆÅ Indian Promoters / Government of India 14,68,20, ¹ ½ ú œï ĈŠForeign Promoters 2. ç ñ Ö ª ½ˆÅ ˆÅ Ä ˆÅ ½ ½ ¹Æ Š µ Persons Acting in Concert ˆºÅ Total 14,68,200, B. Š ¾ œï ĈŠš µ Non Promoters Holding 3. ç ç Š ¹ ½ ˆÅ ˆÅ) œ çœ ¹ ˆÅ ¹ ¹š Â Þ ú ƒä Institutional Investors a) Mutual Funds & UTI 22,08, ) ñ ÿˆå, ¹ î ú ç ç Â, ñ úÿ ˆ Åœ ¹ Â(ˆ½Å Íú / ù ç ˆÅ ç ç / Š ¾ -ç ˆÅ ú ç ç ) b. Banks, Financial Institutions, Insurance Companies (Central / State Govt. Institutions / Non-government Institutions) 99,44, Š ) ¹ ½ ú ç ç / ¹ ½ ˆÅ c. Foreign Institutions / Investors 1,63,85, œ ˆºÅ Sub Total 2,85,39, Others ˆÅ. œï ƒ ½ ˆÅ œ ½Ä ½ ¹ ˆÅ a. Private Corporate Bodies 2,06,34, ð ú ù b. Indian Public 8,53,41, Š. ¹ ç ú ð ú / ¹ ½ ú ˆ Åœ ¹  / ˆÅ œ ½Ä ½ ¹ ˆÅ c. NRIs/Foreign Cos/OCBs 54,73, ˆÅ ½ƒÄ ( ç ) d. Any other (Trust) 13, œ ˆºÅ Sub Total 11,14,63, Ÿ ª ½Š GRAND TOTAL 28,68,23,

18 9.7 ¹ ˆÅ ˆÅ ½ ñ ÿˆå ½ ½ ˆÅ 01% ç ½ ¹š ˆÅ ½ ½ ½ ½ š ˆÅ 9.7 Shareholders holding more than 01% of the Bank s shares as on ÇÅŸ ˆÅ ½ š ˆÅ ½ ˆÅú ý½µ ú š ¹ ½ ½ ½ š ¹ ˆÅ % ˆÅú ç SR. Category of the Shareholders Nos of % of shares No. Shares held holding A. œï ĈŠš µ Promoter s holding 1. ð ú œï ĈÅ-ð ç ˆÅ Indian Promoters-Government of India 14,68,20, Š ¾ œï ĈŠš ¹ Non Promoters Holding A. ) ñ ÿˆå, ¹ î ú ç ç Â, ñ úÿ ˆ Åœ ¹ Â(ˆ½Å Íú / ù ç ˆÅ ç ç / Banks, Financial Institutions, Insurance Companies (Central / State Govt. Institutions / Non-government Institutions) Š ¾ -ç ˆÅ ú ç ç ) ð ú ù ú ñ úÿ ¹ Š Ÿ Life Insurance Corporation of India 48,99, Þñ ú ç œï¹ ð Þ¹ ¹ ¹ ¹Ÿ ½è ¹ç ç ûå ƒ ¾ ç UBS Securities Asia Limited A/c Swiss Finance (* ç ½ 5% ç ½ ¹š ˆÅ ñ éú ªºƒÄ (* increased to more than 5% since ) 1,19,98, * 9.8 ¹ ˆÅ 31 Ÿ ê Ä, 2005 ˆÅ ½ ½ š ¹ ˆÅ ¹ µ 9.8 Distribution of Shareholding as on March 31, 2005 ¹ µ ½ š ˆÅ ½ ˆºÅ ½ š ˆÅ ½ ½ ½ ˆÅú ç ˆºÅ ½ š ¹ ˆÅú ç ˆÅ % ˆÅ % Description No. of % to total No. of % to total ( ½ ½ ˆÅú ç ) (No of Shares) Shareholders Shareholders Shares Shareholding Upto 500 ˆÅ 2,24, ,75,14, , ,84, , ,79, , ,74, ,87, ,65, ,76, Above ç ½ ¹š ˆÅ ,90,42, ˆºÅ Total 2,43, ,68,23,

19 hej ueskee hejer#ekeâew keâe ØeceeCe he$e ç ½ Ÿ ½, ¹ ½ ˆÅ Ÿ è ½ ñ ÿˆå, œïš ˆÅ Ä ½ ˆÅ œ ½Ä ½ ˆ½Å Í, ç ú-10, ù ú ñ ÁˆÅ, ñ Í -ˆºÅ Ä ˆÅ ÁŸœ ½Æç, ñ Í (œ Þ Ä), Ÿ º ñ ƒä ½ ñ ÿˆå ¹ ¹ð ç ÁˆÅ Æç ê ½ ù ½ Ä Ã Ÿ º ñ ƒä ½ ç ÁˆÅ Æç ê ½ ù ( ç ƒä), ð ú ß ïú ç ÁˆÅ Æç ê ½ ù ¹ ¹Ÿ ½è, ªŸ ñ ç ÁˆÅ Æç ê ½ ù ¹ ú ç ÁˆÅ Æç ê ½ ù ç ½¹ç ¹ ¹Ÿ ½è ˆ½Å ç ¹ˆÅ Š ç Þê úñ Ö ˆÅ ˆ½Å œ š 49 ˆ½Å œ ñ š ½ ˆ½Å ºç 31 Ÿ ê Ä, 2005 ˆÅ ½ ç Ÿ œ ß Ä ˆ½Å ¹ ½ ñ ÿˆå ˆÅ œ ½Ä ½ ¹ð ç ˆÅú ½ Ä ˆ½Å ºœ ˆÅú ªŸ ½ ù Âê ˆÅú ª¾. ˆÅ œ ½Ä ½ ¹ð ç ˆÅú ½ Ä ˆ½Å ºœ ˆÅ ¹ œïñ š ˆÅ ª¾. ªŸ ú ù Âê ˆÅ Ä ƒä, ˆÅ œ ½Ä ½ ¹ð ç ˆÅú ½ Ä ˆÅ ºœ ç º¹ ¹ ê ˆÅ ½ ˆ½Å ¹ ñ ÿˆå œ ú Š ƒä ˆÅ Ĺ ¹š ¾ ˆÅ Ä ˆÅ ½ ˆÅ ç ú¹ÿ ú. ª ½ ½ œ ú ª¾ ¾ ªú ñ ÿˆå ˆ½Å ¹ î ú ¹ µ ½ œ Ÿ ˆÅú ¹ð ¹Æ ª¾. ªŸ ú Ÿ ½ ¾ ªŸ ú ç ½Äî Ÿ ù ˆÅ ú ¾ ªŸ ½ œï î çœ ß úˆå µ ½ ˆ½Å ºç ªŸ œïÿ ¹µ ˆÅ ½ ªÿ ¹ˆÅ ñ ÿˆå ½ ç Þê úñ Ö ˆÅ Ÿ ½ ¹ š Ĺ œ ½Æ œ š. 49 ˆ½Å º ˆÅ œ ½Ä ½ ¹ð ç ˆ½Å Ÿ è ½ ˆÅ ºœ ¹ˆÅ ª¾ ˆÅ ½ ž ˆÅ /ž ú ¹ { Ä ÿˆå ú ¹ ¹ ½ ½ ½ Š ì ÿ ¹ ƒ ˆ½Å ¹ˆÅ ÿˆå ˆÅ ˆ Åœ ú ¹, ½ œ ú ¹Ÿ ¹ ˆ½Å ¹ ˆ½Å ³œ Ÿ ½ ˆÅ Ä ì ˆÅ ¾ ¾ ž ú ¹ˆÅ 31 Ÿ Ä 2005 ˆ½Å «ô ˆÅ ÿˆå Ÿ ½ ˆÅ ½ƒÄ ˆ Åœ ú ¹ ì ÿ. ªŸ ª ˆÅª ê ª ½ ªÿ ¹ˆÅ ÿˆå ½ Š ¹ž ½ ˆ½Å º ñ ÿˆå ˆ½Å ¹ ½ ˆÅ ç ½ ç ñ ¹š ˆÅ ½ƒÄ ð ú ¹ ˆÅ ˆÅ Ÿ ª ç ½ ¹š ˆÅ ç Ÿ ˆ½Å ¹ ¹ñ ªì ú. ªŸ ª ð ú ˆÅª ê ª ½ ªÿ ¹ˆÅ ½ç ºœ ½ ñ ÿˆå ˆÅú ð ú ª Ä ˆ½Å ³œ Ÿ ½ ç ª¾ ¾ ªú ç ˆÅ Ä Ÿ ¾ œïð Ÿ ˆÅ ˆÅ, ¹ù ç ½ œïñ š Š Ä ½ ñ ÿˆå ˆ½Å ˆÅ Ÿ ˆÅ ù ˆ½Å ¹ ¾ ¹ˆÅ ª¾. Auditors' Certificate on Corporate Governance To, The Board of Directors, Dena Bank, Head office, Dena Corporate Centre C-10, G Block, Bandra Kurla Complex, Bandra (East), Mumbai We have examined the compliance of the conditions of Corporate Governance by Dena Bank for the year ended March 31, 2005, as stipulated in clause 49 of the Listing Agreements (as modified from time to time ) of the said Bank entered into with National Stock Exchange (NSE), The Stock Exchange, Mumbai (BSE), Ahmedabad Stock Exchange (ASE) and Delhi Stock Exchange Association (DSE). The compliance of the conditions of corporate governance is the responsibility of the management. Our examination was limited to the procedures and implementation there of, in terms of aforesaid clause 49. It is neither an audit nor an expression of opinion of the financial statement of the Bank. We certify that, In our opinion and to the best of our information and according to the explanations given to us, Bank has complied with the conditions of Corporate Governance as stipulated in the above-mentioned clause 49 of the listing agreements, so far as they are not inconsistent with the guidelines issued by the Government of India/ Reserve Bank of India except that the company secretary of the bank is not acting as secretary to the Audit and that the Bank has no Company Secretary as on year end March 31, We state that no investor grievance was pending for a period exceeding one month against the Bank as per the records maintained by the Bank. We further state that such compliance is neither an assurance as to the future viability of the Bank nor the efficiency or effectiveness with which the management has conducted the affairs of the Bank. ke=âles cewmeme& ve=hewõ SC[ kebâ. ke=âles cewmeme& yeer. kesâ. Kejs Sb[ kebâ. ke=âles cewmeme& KeC[sueJeeue keâekeâeveer Sb[ kebâ. meveoer ueskeekeâej meveoer ueskeekeâej meveoer ueskeekeâej jengue ieghlee meblees<e hejye Jeer. kesâ KeC[sueJeeue Yeeieeroej Yeeieeroej Yeeieeroej ke=âles cewmeme& Sme. peùeefkeâmeve ke=âles cewmeme& Yegoueeef[Ùee SC[ kebâ. ke=âles cewmeme& ieeboeer efceveesûee Sb[ kebâ. meveoer ueskeekeâej meveoer ueskeekeâej meveoer ueskeekeâej Sme. Ûešpeea peer. kesâ. pewve DepeÙe keâefšùeeue Yeeieeroej Yeeieeroej Yeeieeroej mleeve : cegbyef& efoveebkeâ : For Nripendra & Co. For M/s. B.K. Khare & Co. For M/s. Khandelwal Kakani & Co. Chartered Accountants Chartered Accountants Chartered Accountants Rahul Gupta Santosh Parab V.K. Khandelwal Partner Partner Partner For M/s. S. Jaykishan. For M/s. Bhudladia & Co. For M/s. Gandhi Minocha & Co. Chartered Accountants Chartered Accountants Chartered Accountants S.Chatterjee G.K. Jain Ajay Katyal Partner Partner Partner Place : Mumbai Date :